Nike Acquires RTFKT Studios for it’s Metaverse

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Nike has acquired RTFKT Studios, a virtual sneaker and collectibles, startup company, that uses game-engines, blockchain authentication and augmented reality, to create NFT’s, such as sneakers.

RTFKT Studios was created in 2020 and has quickly become known for creating virtual sneaker designs and collectible exclusives. Customers who purchase NFT’s on RTFKT can pay using Ethereum (ETH). The company’s website also supports digital wallets including Bitski and Metamask.

This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture. (…) “We’re acquiring a very talented team of creators with an authentic and connected brand. (…) “Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities.”

– John Donahoe, Nike President and CEO

“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love.”

– Benoit Pagotto, RTFKT co-founder

Photo: RTFKT

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